{"schema_version":"secwatch.filing_event.v1","accession":"0001564590-22-029310","form_type":"8-K/A","ticker":"CULP","cik":"0000723603","company_name":"CULP INC","filed_at":"2022-08-12T23:59:59+00:00","discovered_at":"2026-05-14T18:03:58.016539+00:00","generated_at":"2026-06-24T00:33:08.947401+00:00","sec_items":["5.02"],"event_type":"leadership","sentiment":"neutral","materiality_score":0.45,"calibrated_materiality_score":0.45,"confidence":"high","headline":"Culp executive chairman steps down as employee, remains chairman and consultant","bullets":["Franklin Saxon ceases as full-time employee and executive officer effective Sept 1, 2022.","Saxon will remain board chairman and provide consulting; annual cash compensation $350,000.","Compensation Committee determined Saxon's RSU award will not be forfeited despite role change.","Change of Control and Non-Competition Agreement between Saxon and Culp terminated effective Sept 1."],"urls":{"canonical":"https://secwatch.observer/filing/0001564590-22-029310","json":"https://secwatch.observer/filing/0001564590-22-029310.json","markdown":"https://secwatch.observer/filing/0001564590-22-029310.md","text":"https://secwatch.observer/filing/0001564590-22-029310.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/723603/000156459022029310/0001564590-22-029310-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/723603/000156459022029310/culp-8ka_20220721.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-24T00:33:08.947401+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"da837cb1cd","claim":"Franklin N. Saxon changed role as Executive Chairman (transitioning to non-executive Chairman) at CULP INC.","evidence_excerpt":"Effective September 1, 2022, Mr. Saxon’s duties will change such that he is less involved in day to day management, as he will no longer be a full time employee or an executive officer of the Company.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/723603/000156459022029310/0001564590-22-029310-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"modified role"},{"label":"Role","value":"Executive Chairman (transitioning to non-executive Chairman)"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}